📄 reut2-013.sgm
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<DATE> 3-APR-1987 13:30:26.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D><D>thatcher</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM
f1815reute
u f BC-UK-MINISTER-LOOKS-TO 04-03 0112</UNKNOWN>
<TEXT>
<TITLE>UK MINISTER LOOKS TO EASE TENSION ON TOKYO TRIP</TITLE>
<AUTHOR> By Sten Stovall, Reuters</AUTHOR>
<DATELINE> LONDON, April 3 - </DATELINE><BODY>The U.K. Government hopes for a
breakthrough on the deadlock with Japan over trade policies
during next week's visit to Tokyo by Corporate Affairs Minister
Michael Howard, political sources said.
Howard, who leaves for Japan tomorrow, told Reuters he will
try to promote understanding on trade issues during his visit.
Meanwhile, Britain will re-examine a letter from Japanese
Prime Minister Yasuhiro Nakasone promising personal help in
solving the row over a U.K. Firm's bid to win a significant
role in Japan's telecommunications market, government sources
said.
Tensions have risen following Britain's decision to arm
itself early with new statutory powers which it says could be
used against certain Japanese financial institutions.
Britain reacted optimistically at first to the letter from
Nakasone to Prime Minister Margaret Thatcher, seeing it as a
signal that he would work towards ensuring a satisfactory
outcome to the bid launched by Cable and Wireless Plc <CAWL.L>,
government officials said.
But this view has since been clouded by reports from Tokyo
that Nakasone's assurances really constituted little more than
politeness in the face of British anger, they added.
Howard said he would use his trip to push for a bigger role
in Japan's telecommunications industry for Cable and Wireless
Plc. The U.K. Government has made the issue a test case for
Japan's willingness to open its markets adequately to outside
competition.
Asked whether the letter from Nakasone was a rejection of
attempts by Britain to achieve that, Howard said "I am not sure
it is correct to regard Mr Nakasone's letter as a rejection of
Mrs Thatcher's request of him - and it says he is taking a
personal interest in this problem.
"I don't understand it to be closed at all."
Howard added that during his Tokyo visit he would be
"talking to them about it (the letter), finding out exactly what
they do mean about it, and making it plain that we take a very
serious view of the fact that access to Japanese markets is not
as free as we allow access to our markets to be."
He noted that under the new Financial Services Act, Britain
could revoke or deny licences to Japanese banking and insurance
institutions in London if U.K. Firms fail to receive similar
treatment in financial markets in Japan soon.
"I hope it won't come to that, and I don't think it will,"
Howard added.
During the trip Howard will meet officials in the Tokyo
Stock Exchange, the Ministry of Finance, the Trade Ministry,
and Posts and Telecommunications Minister Shunjiro Karasawa.
Karasawa is regarded as behind opposition to any
significant role for Cable and Wireless in the Japanese
telecommunications industry.
Share prices on the London Stock Exchange were undermined
again today by fears of a possible U.K./Japanese trade war.
This was despite denials by Trade and Industry Secretary Paul
Channon that Britain was on the verge of a trade war.
He told a meeting of insurance brokers today that Britain
believed a "sensible solution" could be found which would open
Japanese markets to British goods.
Government officials were at pains today to deny that
Britain had set a deadline of three weeks for Japan to promise
similar access to its financial markets to U.K.-based financial
firms as that enjoyed in London by equivalent Japanese firms.
They said that Department of Trade and Industry officials
had said yesterday that the measures against Japanese financial
institutions could be imposed from then but that this did not
necessarily constitute a deadline.
Experts believe Britain would lose out by acting against
Japanese banks, insurance and investment institutions. But
despite the danger of Japanese firms taking their trade
elsewhere in Europe, Howard said he did not expect the move to
backfire.
He said in a radio interview today "it is true that we
benefit from their presence - but they would not want to lose
those advantages. And I am sure they are making their views
plain to the Japanese government on this matter."
Howard, who will also be visiting South Korea before
returning to London on April 11, said his trip to Tokyo was
planned well before the current trade row.
Howard said his talks with Japanese officials would also
include ways of jointly combating financial fraud in global
markets with Japanese officials. This would be done through a
cooperation between national regulatory bodies.
He said a memorandum of understanding for exchanging
information to combat financial fraud would be sought with
Japan on terms similar to one signed last autumn between
Britain and the United States.
REUTER
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2004" NEWID="13035">
<DATE> 3-APR-1987 13:33:25.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1828reute
d f BC-PACIFIC-GAS-<PCG>-PLA 04-03 0103</UNKNOWN>
<TEXT>
<TITLE>PACIFIC GAS <PCG> PLANT TO BEGIN REFUELING</TITLE>
<DATELINE> SAN FRANCISCO, April 3 - </DATELINE><BODY>Pacific Gas and Electric Co said
its Diablo Canyon Unit 2 nuclear power plant will begin its
first refueling today after about 13 months of operation.
The refueling outage is expected to last about 12 weeks and
will include a variety of maintenance as well as the
replacement of about one-third of Unit 2's fuel, the company
said.
Pacific Gas said Unit 2 generated power about 93.7 pct of
the time during its first year of operation.
Pacific Gas' two Diablo Canyon units generate about 2.2 mln
kilowatts of electricity in full operation.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2005" NEWID="13036">
<DATE> 3-APR-1987 13:34:29.36</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1833reute
d f BC-MID-STATE-<MSSL>,-FIR 04-03 0067</UNKNOWN>
<TEXT>
<TITLE>MID-STATE <MSSL>, FIRST FEDERAL IN DEAL</TITLE>
<DATELINE> OCALA, Fla, April 3 - </DATELINE><BODY>Mid-State Federal Savings and Loan
Association said it and First Federal Savings and Loan
Association of Brooksville <FFBV> reached a definitive merger
agreement.
As previously announced, Brooksville shareholders will get
cash and stock in exchange for their shares. The transaction is
expected to be completed during the summer 1987.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2006" NEWID="13037">
<DATE> 3-APR-1987 13:34:50.83</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
E F
f1835reute
r f BC-memotec-data-complete 04-03 0110</UNKNOWN>
<TEXT>
<TITLE>MEMOTEC DATA COMPLETES TELEGLOBE ACQUISITION</TITLE>
<DATELINE> MONTREAL, April 3 - </DATELINE><BODY><Memotec Data Inc> said it completed
the previously announced 488.3 mln dlr acquisition of Teleglobe
Canada from the federal government.
Memotec Data said Teleglobe, which has provided Canada's
overseas telecommunications services since 1950, now becomes
Teleglobe Canada Inc, a unit of Memotec.
Teleglobe president and chief executive Jean-Claude Delorme
will continue in the same post, the company said.
In addition to the sale price, the government will receive
Teleglobe's accumulated cash of 102 mln dlrs and a special 18
mln dlr dividend, making total proceeds 608.3 mln dlrs.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2007" NEWID="13038">
<DATE> 3-APR-1987 13:37:55.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1839reute
d f BC-CITIZENS-FIRST-BANCOR 04-03 0133</UNKNOWN>
<TEXT>
<TITLE>CITIZENS FIRST BANCORP <CFB> RECEIVES FINE</TITLE>
<DATELINE> GLEN ROCK, N.J., April 3 - </DATELINE><BODY>Citizens First Bancorp Inc said
its banking subsidiary pleaded guilty to two technical
violations of the Bank Secrecy Act and was fined 2,000 dlrs.
The subsidiary, Citizens First National Bank of New Jersey,
pleaded guilty to two misdemeanors in Federal District Court
for the District of New Jersey. Charges had been brought by the
U.S. Attorney's office.
The company said no additional charges will be brought
against it and that it has instituted additional procedures to
reduce the possibility of future violations. It cooperated with
authorities in the investigation.
The violations occurred on Aug 12, 1982, and May 25, 1984,
when the bank failed to report currency transactions involving
more than 10,000 dlrs.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2008" NEWID="13039">
<DATE> 3-APR-1987 13:40:10.81</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1844reute
u f AM-TRADE-AMERICAN 04-03 0100</UNKNOWN>
<TEXT>
<TITLE>U.S., JAPANESE OPEN TALKS ON SEMICONDUCTORS</TITLE>
<DATELINE> WASHINGTON, April 5 - </DATELINE><BODY>U.S. and Japanese officials meet
tomorrow to try to settle a dispute over semiconductor trade
and to cut short the 300 mln dlr penalty tariffs President
Reagan has ordered imposed on Japanese exports.
But U.S. officials held out little hope that any accord
could be reached before the tariffs of 100 per cent - up from
about five per cent - are to take effect on April 17.
The Customs Bureau last week started to levy a bond on the
Japanese goods that Reagan ordered penalized. The penalties
would be retroactive to March 31.
Reagan said on March 27 when ordering the tariffs that he
hoped the Japanese would soon end their unfair practices in
semiconductor trade and that sanctions could be lifted.
Technical meetings are to be held today and tomorrow, with
meetings at a more senior level scheduled for Thursday and
Friday. Public hearings on the sanctions are set for April 13.
The Japanese aides here for the technical talks include
Shigeru Muraoka, director-general of international trade policy
of the Ministry of International Trade and Industry (MITI), and
Masashi Yamamoto, deputy director-general of the information
and machinery bureau.
Meeting with them will Glen Fukushima, director of the
Japan office of the U.S. Trade Representative's Office, and Jim
Gradoville, of trade representative's office of industry and
services.
The two sides in the Thursday and Friday talks will be
headed by Deputy U.S. Trade Representative Michael Smith and
MITI vice minister Makoto Kuroda.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2009" NEWID="13040">
<DATE> 3-APR-1987 13:41:26.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1847reute
r f BC-TRIBUNE-<TRB>-FILES-3 04-03 0051</UNKNOWN>
<TEXT>
<TITLE>TRIBUNE <TRB> FILES 300 MLN DLR SHELF REGISTRATION</TITLE>
<DATELINE> CHICAGO, April 3 - </DATELINE><BODY>Tribune Co said it filed a shelf
registration with the Securities and Exchange Commission for
300 mln dlrs in debt securities.
Underwriters may include Salomon Bros Inc and Merrill
Lynch, it said. Proceeds will be for general needs.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2010" NEWID="13041">
<DATE> 3-APR-1987 13:42:58.60</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
F
f1854reute
d f BC-AMERON-<AMN>-ADOPTS-S 04-03 0107</UNKNOWN>
<TEXT>
<TITLE>AMERON <AMN> ADOPTS SHAREHOLDER RIGHTS PLAN</TITLE>
<DATELINE> MONTEREY PARK, Calif., April 3 - </DATELINE><BODY>Ameron Inc said its board
adopted a rights plan designed to protect shareholders from
potentially unfair takeover tactics.
The plan calls for distribution of one right for each of
its outstanding common shares and each right entitles the
holder to buy one/one-hundredth of a share of newly authorized
Series A Junior Participating cumulative Preferred stock at an
exercise price of 55 dlrs, Ameron said.
It said the rights are exercisable if a group acquires 20
pct or more of its common stock or announces a tender offer for
30 pct or more of its shares.
Reuter
</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="2011" NEWID="13042">
<DATE> 3-APR-1987 13:43:34.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN>
RM
f1856reute
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